Richard Ivey School of Business
Encyclopedia
University of Western Ontario
The University of Western Ontario is a public research university located in London, Ontario, Canada. The university's main campus covers of land, with the Thames River cutting through the eastern portion of the main campus. Western administers its programs through 12 different faculties and...
, but is managed separately with its own Dean and budget. Its primary location is London, Ontario, but the school also has two executive teaching facilities in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
and Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
.
The University of Western Ontario created the Department of Commercial Economics within the Faculty of Arts in 1922 to offer elective course work in business. The first degree program was the Bachelor of Arts (Honors) in Business Administration (HBA). In 1948, Canada's first MBA program was added. In 1950, the university created a separate faculty as the School of Business Administration. In 1961, the School of Business Administration inaugurated Canada's first PhD program in Business. In 1995, the school was renamed the Richard Ivey School of Business after an $11 million donation by the Richard M. Ivey
Richard M. Ivey
Richard Macaulay Ivey, is a Canadian lawyer and philanthropist.Born in London, Ontario, he attended Ridley College in St. Catharines, Ontario, and received a Honours Business Administration degree from the University of Western Ontario in 1947...
family. The school is named after Richard G. Ivey. In 1998, Ivey was the first North American business school to open a campus in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
offering an Executive MBA program at the Cheng Yu Tung Management Institute.
Ivey's current dean is Carol Stephenson with a full-time faculty of 135 plus 12 lecturers. The school publishes a bi-monthly business magazine, Ivey Business Journal, as well as an undergraduate business strategy publication, Ivey Business Review.
Programs
- Full-time undergraduate Honors Business Administration (HBA)
- Full-time graduate degree programs (MBA, MSc and PhD)
- Executive MBA (EMBA) program in 2 locations: Downtown Toronto (Exchange Tower main floor) and Hong Kong
- Pre-business Courses (one each for years one and two of university)
- Executive Development (core program plus custom programs for corporations)
Honors Business Administration
The Ivey HBA (Bachelor of Arts in Honors Business Administration) was the first degree program in business at the University of Western Ontario. The program was modeled on Harvard Business SchoolHarvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
's case method
Case method
The case method is a teaching approach that consists in presenting the students with a case, putting them in the role of a decision maker facing a problem...
. A class of six men were the programs first graduates in 1923. In 2010, the HBA program grew to 525 students with the final program size of 600 students set for 2013.
In 2010, 92% of Ivey HBA graduates found permanent placements within 3 months of graduation, with an average starting compensation of $61099.00/year.
The HBA program is a highly selective, second-entry, two-year program that enrolls students who have completed two years of undergraduate study (in any faculty at any recognized university). First year Ivey students, known as HBA1s, are typically in their third year of university. Previously, prospective students applied for admission to Ivey during their second year of university. In 1998, Ivey introduced Advanced Entry Opportunity status (AEO), a conditional pre-admission status offered to select secondary school students. AEO students may study in any faculty of interest at the University of Western Ontario for their first two years of university. In order to maintain AEO status and progress to the Ivey HBA in year 3, students must maintain an overall two-year average of at least 80% with a full course load and continued involvement, achievement, and leadership in extracurricular activities in years 1 and 2. 66% of the entering class of 2009 were admitted with AEO status, while the remaining 33% were non-AEO students from Western and other universities who discovered an interest in business during their first two years of study. Applicants must demonstrate superior academic ability as well as exceptional extracurricular involvement, both of which are key aspects that the school considers when choosing its class.
A 90% grade average is seen as a competitive application for AEO status out of secondary school, although candidates with lower averages and extremely strong extracurriculars are accepted.
The HBA1 year is a highly structured program with no elective course work. HBAs are placed into "sections" of 75 students and work with the same classmates, the same professors, and in the same classroom year-round. The curriculum includes courses in finance, accounting, marketing, operations management, organizational behavior, and general management. All courses are taught using the case method with the majority of cases written and produced by Ivey professors. The HBA2 year is less structured with students taking only three required courses along with elective courses that tailor to individual interests.
The Ivey HBA program operates on a private tuition model with annual tuition of roughly $21,000 annually.
Master of Science in Management
The Ivey MSc is a direct-entry program requiring no previous full-time work experience. The program is designed to build on previous undergraduate experience and prepare you for international career interests in an ever-evolving, multicultural business world.The Ivey MSc is a pre-experience master's program, although it is a relatively uncommon degree in North America.
In December of 2009, Ivey was selected as the exclusive Canadian partner in the internationally renowned CEMS alliance. This partnership gives Ivey MSc students the opportunity to participate in the Master of International Management program with students from other schools in the alliance like the London School of Economics, HEC Paris, National University of Singapore, ESADE (Spain) and Fundao Getulio Vargas (Brazil). Students register as Ivey MSc students and pursue the CEMS MIM program concurrently.
Master of Business Administration
The Ivey full-time MBA was created in 1948 and was Canada's first MBA program as well as the first one offered outside of the United States. Its first class graduated in 1950. The program was modeled on the Harvard Business SchoolHarvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
MBA as a two-year program. In 2006, Ivey revamped the MBA program after a comprehensive review of the school's approach to business education. The program was converted to a 12-month program and was relocated from the University of Western Ontario
University of Western Ontario
The University of Western Ontario is a public research university located in London, Ontario, Canada. The university's main campus covers of land, with the Thames River cutting through the eastern portion of the main campus. Western administers its programs through 12 different faculties and...
campus to the Spencer Leadership Centre. A specialized Health Sector Stream is offered through the Ivey Centre for Health Innovation and Leadership. The program enrolled 146 students in the class of 2011.
Ivey offers a number of networking opportunities. With over 22,000 alumni in 99 countries, some of the formal networking initiatives include:
1) Alumni Partnership Program: This program involves top Ivey alums who have volunteered to act as mentors to current students and alumni. Students can choose to be partner with an alumnus based on a number of criteria including function, industry or geography.
2) Get Connected Event: The “Get Connected” event in Toronto is hosted by Ivey’s Career Management team in partnership with its alumni and top recruiting firms. For 3 days, students are exposed to information sessions, formal networking events, functional panels and mock interviewing events with Ivey recruiters and alums. This is the students’ official ‘debut’ or introduction to the market, following their 12-weeks of in-class Career Management programming.
3) Global Ivey Day: This is an annual event for Ivey students and alums around the world to connect, network and socialize. Events are hosted by alumni chapters all over the world, including a Gala event in Toronto, with live webinars and webcasts available for alums and students to join as well.
The Ivey MBA program was ranked #46 in the World MBA rankings by the Financial Times in 2011.
PhD
The University of Western OntarioUniversity of Western Ontario
The University of Western Ontario is a public research university located in London, Ontario, Canada. The university's main campus covers of land, with the Thames River cutting through the eastern portion of the main campus. Western administers its programs through 12 different faculties and...
began offering a PhD
PHD
PHD may refer to:*Ph.D., a doctorate of philosophy*Ph.D. , a 1980s British group*PHD finger, a protein sequence*PHD Mountain Software, an outdoor clothing and equipment company*PhD Docbook renderer, an XML renderer...
in Business Administration in 1961, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
's first PhD
PHD
PHD may refer to:*Ph.D., a doctorate of philosophy*Ph.D. , a 1980s British group*PHD finger, a protein sequence*PHD Mountain Software, an outdoor clothing and equipment company*PhD Docbook renderer, an XML renderer...
in business. The program has focused on study in eight disciplines: Finance, General Management, Information Systems, Management Science, Managerial Accounting, Marketing, Operations Management and Organizational Behaviour.
Executive MBA Program
The Ivey Executive MBA (EMBA) was founded in 1991 with the addition of a Hong KongHong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
-based program and a remote video-conference program in 1995. In 2007, the Executive MBA program was relocated to a new facility in downtown Toronto named the ING Leadership Centre.
The program was designed to provide a part-time MBA program for working managers with at least 7 years of work experience. The program consists of 4 in-class days (Thursday to Sunday) once per month. Classes continue for three consecutive terms, each five months long.
Pre-business undergraduate courses
Ivey has historically offered 4 undergraduate pre-HBA business courses:- Business 1220: A first-year introduction to business course
- Business 2257: A second-year course with a focus on Financial Accounting, Business Analysis and Managerial Accounting. This course is a mandatory prerequisite course for the HBA program.
- Business for Science Students 2295F: Introductory course in business designed for Science, Medical and Dentistry students
- Business for Engineers 2299: Introductory course in business designed for Engineering students
Locations
Ivey operates on four campuses:- Richard Ivey School of BusinessRichard Ivey School of BusinessThe Richard Ivey School of Business is located on the University of Western Ontario campus in London, Ontario, Canada, and is consistently rated as the top business school in Canada. It is offered, along with a range of other programs, by the University of Western Ontario, but is managed separately...
on the main campus of the University of Western OntarioUniversity of Western OntarioThe University of Western Ontario is a public research university located in London, Ontario, Canada. The university's main campus covers of land, with the Thames River cutting through the eastern portion of the main campus. Western administers its programs through 12 different faculties and...
with adjoining Lawrence National Centre for Policy & Management - Spencer Leadership Centre (formally known as Spencer Hall) in London, Ontario
- ING Leadership Centre located in downtown TorontoTorontoToronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
at the Exchange Tower - Cheng Yu Tung Management Institute is located in the Hong Kong Convention and Exhibition CentreHong Kong Convention and Exhibition CentreThe Hong Kong Convention and Exhibition Centre is one of the two major convention and exhibition venues in Hong Kong, along with AsiaWorld-Expo. It is located in Wan Chai North, Hong Kong Island. Built along the Victoria Harbour, it is linked by covered walkways to nearby hotels and commercial...
On September 10, 2009, Ivey broke ground on a new 235000 square feet (21,832.2 m²) faculty building on the UWO campus in front of Brescia College on former soccer fields. The building is expected to cost $110 million. The federal and provincial governments committed $50 million in funding with the remainder funded by private donations. The building was to be designed by Hariri Pontarini Architects
Hariri Pontarini Architects
Hariri Pontarini Architects is a Toronto-based architectural practice made up of Siamak Hariri and David Pontarini.Hariri Pontarini Architects was the recipient of the The Governor General's Medal for the Schulich School of Business at York University, the World Architecture News Awards for the...
of Toronto and was expected to be completed in March 2011.
Alumni
Ivey has more than 22,000 alumni in over 100 countries around the world. This is a partial list of notable alumni. Entries on this list should either have an accompanying existing article link which verifies they are an alumnus, or reliable sources as footnotes against the name.- Thomas H. BaileyThomas H. BaileyThomas H. Bailey is an American financier, noted for founding Denver based Janus Capital Group, one of the largest mutual fund institutions in the United States. Bailey is a billionaire, with a 2006 estimated net worth of $1.2 billion. He graduated with a Bachelor of Arts and Science degree from...
, Founder, Janus Capital, USA - E. Scott BeattieE. Scott BeattieE. Scott Beattie is the Chairman of Elizabeth Arden, a multibillion dollar, global cosmetics company. He holds an M.B.A and a degree in Honors Business Administration from The Ivey School of Business at the University of Western Ontario.-References:...
, Chairman / CEO, Elizabeth Arden Inc., USA - George CopeGeorge CopeGeorge A. Cope is the CEO of BCE/Bell Canada, achieving that position aged 47 as part of the thirty five billion dollar leveraged buyout led by Providence Equity and the Ontario Teachers' Pension Fund in 2008. He led a competitor, Telus Mobility, before becoming President at Bell in 2005. He...
, President & CEO, Bell CanadaBell CanadaBell Canada is a major Canadian telecommunications company. Including its subsidiaries such as Bell Aliant, Northwestel, Télébec, and NorthernTel, it is the incumbent local exchange carrier for telephone and DSL Internet services in most of Canada east of Manitoba and in the northern territories,...
Enterprises - Cordell Spencer, Co-head of Global Investment Banking, Morgan StanleyMorgan StanleyMorgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
- Don GettyDon GettyDonald Ross Getty, OC, AOE is a retired Canadian politician who served as the 11th Premier of Alberta between 1985 and 1992. A member of the Progressive Conservatives, he served as Energy Minister and Federal and Intergovernmental Affairs Minister in the government of Peter Lougheed before...
, former Premier of Alberta, Canada - Gar KnutsonGar KnutsonThomas Garfield "Gar" Knutson, PC is a lawyer and former member of the Parliament of Canada, as well as a former cabinet minister....
, former Member of Parliament, Government of CanadaGovernment of CanadaThe Government of Canada, formally Her Majesty's Government, is the system whereby the federation of Canada is administered by a common authority; in Canadian English, the term can mean either the collective set of institutions or specifically the Queen-in-Council...
, Canada - Michael McCainMichael McCainMichael McCain or Michael H. McCain B.A. is the current President and Chief Executive Officer of Maple Leaf Foods, since January 1999...
, President & CEO, Maple Leaf Foods Inc., Canada - Richard NesbittRichard NesbittRichard William Nesbitt is a Canadian financial executive. He became CEO of CIBC World Markets on February 29, 2008, replacing former CIBC World Markets head Brian Shaw....
, President & CEO, CIBC World MarketsCIBC World MarketsCIBC World Markets is the investment banking subsidiary of the Canadian Imperial Bank of Commerce. The firm operates as an investment bank both in the domestic and international equity and debt capital markets...
, Former CEO, TMX Group - Dave NicholDave NicholDavid Nichol is an award-winning Canadian Product Marketing expert. He introduced several store branded lines of products in the 1970s that propelled Loblaws from a struggling chain to an industry leader...
, Founder, President's ChoicePresident's ChoicePresident's Choice also known as “PC,” is a private label or store brand owned by Loblaw Companies Limited, Canada’s largest food retailer. As the company’s premium line, President’s Choice includes a wide variety of grocery and household products, in addition to financial services and mobile...
, Canada - Robert NourseRobert NourseRobert E.M. Nourse is an entrepreneur and former President and CEO of The Bombay Company.Nourse holds an MBA from the Richard Ivey School of Business and a DBA from Harvard Business School...
, Founder, Bombay CompanyBombay CompanyThe Bombay Company is a furniture and home accessories retailer in Canada. It was formerly part of a larger American chain based in Fort Worth, Texas, but the U.S. outlets are now closed.-History:...
, USA - Kevin O'LearyKevin O'Leary (entrepreneur)Kevin O'Leary is a Canadian entrepreneur, venture capitalist, investor, and television personality.-Early life and education:O'Leary was born in Mount Royal, Quebec, a suburb of Montreal, to a salesman father and seamstress mother....
, Managing Director / Dragon from Dragon's Den, Shark from Shark Tank, NorthCoast Capital LLC, USA - Mouli, Butta, former Chairman, DeffDo Much Work, Singapore
- Timothy Hoyland, Senior partner and former Head of the Dallas Office, Oliver WymanOliver WymanOliver Wyman is an international management consulting firm. Founded in 1984, the firm adopted its current form in May 2007, when Mercer Oliver Wyman joined with Mercer Management Consulting and Mercer Delta to become one firm named Oliver Wyman. Oliver Wyman is headquartered in New York City with...
(formerly Mercer Management Consulting), USA - Bonnie Brooks, President & CEO, HBC The Bay
- David FurnishDavid FurnishDavid James Furnish is a Canadian/British filmmaker, former advertising executive, and now a film director and producer most known for his documentary Elton John: Tantrums & Tiaras...
, Former executive and board member, Ogilvy & MatherOgilvy & MatherOgilvy & Mather is an international advertising, marketing and public relations agency based in Manhattan and owned by the WPP Group. The company operates 497 offices in 125 countries with approximately 16,000 employees.-History:...
, United Kingdom - Bob BlumerBob BlumerBob Blumer is the host of Food Network's The Surreal Gourmet and Glutton for Punishment. He is also a cook book author and illustrator. Blumer was born and raised in Montreal, Quebec, but now calls Los Angeles, California his home...
, Cook Book Author, Food NetworkFood NetworkFood Network is a television specialty channel that airs both one-time and recurring programs about food and cooking. Scripps Networks Interactive owns 70 percent of the network, with Tribune Company controlling the remaining 30 percent....
Show Host of The Surreal GourmetThe Surreal GourmetThe Surreal Gourmet is a program on Food Network hosted by Bob Blumer. The show features creative techniques for cooking and the memorable Toastermobile. Generally the foods prepared on The Surreal Gourmet are intended to be served at parties or other get-togethers...
and Glutton for PunishmentGlutton for PunishmentGlutton for Punishment is a program on Food Network hosted by Bob Blumer and produced by Paperny Films. The show features the host in various food-related challenges. He is given five days to become proficient enough in the episode's featured specialty. His newly acquired skills are then put to... - Charles SousaCharles SousaCharles Sousa is a politician in Ontario, Canada. He is the Member of Provincial Parliament for the riding of Mississauga South, and is the province's Minister of Labour in the Cabinet of Premier Dalton McGuinty...
, MPP and Minister of LabourMinistry of Labour (Ontario)The Ministry of Labour is responsible for labour issues in the Canadian province of Ontario.The Ministry of Labour and its agencies are responsible for employment equity and rights, occupational health and safety, and labour relations.... - Jeffrey Di Tomasso, President, DurexDurexDurex is the trademarked name for a range of condoms that used to be made by British company SSL International. This company was sold to Reckitt Benckiser in July 2010....
, United Kingdom - Ray MuzykaRay MuzykaDr. Ray Muzyka is a Canadian entrepreneur. He is the CEO at BioWare Corp as well as a Senior Vice President and Group General Manager of the BioWare RPG/MMO Group of Electronic Arts at BioWare's parent company Electronic Arts.-Career:Muzyka co-founded BioWare in...
, CEO, BioWareBioWareBioWare is a Canadian video game developer founded in February 1995 by newly graduated medical doctors Ray Muzyka, Greg Zeschuk, and Augustine Yip. BioWare is currently owned by American company Electronic Arts...
, Canada - Ray SharmaRay SharmaRay Sharma is the founder and CEO of XMG Studio, a mobile games studio located in Toronto, Canada. Ray is also the Chairman of Xtreme Labs, a co-founder of Extreme Venture Partners and sits on the boards for Wellpoint Health Services Corporation and the Ontario Judicial Council , the body that...
, CEO, XMG Studio Inc.XMG StudioXMG Studio Inc. is based in Toronto, Canada and was founded by Ray Sharma in 2009. XMG is a mobile device gaming company developing video games and interactive content for multiple platforms including Apple iOS and Google Android. XMG Studio currently sells mobile applications in the Apple iTunes...
Case studies
Ivey has been a major publisher of business case studies that support the case methodCase method
The case method is a teaching approach that consists in presenting the students with a case, putting them in the role of a decision maker facing a problem...
of teaching business education. Ivey has published and sells over 2,600 case studies.
Rankings
Recent rankings:- The Aspen Institute Beyond Grey Pinstripes (October 2009): In the most recent publication of The Aspen Institute's biannual ranking of MBA programs, Ivey was ranked #53 among the top 100 business schools in the world.
- Wall Street Journal MBA (September 2007): In The Wall Street Journal 's 7th annual ranking of MBA programs, which is based on the perceptions of corporate recruiters around the globe, Ivey was ranked #12 among the top 25 internationally focused business schools.
- Financial Times MBA, In the Financial Times 12th annual ranking of MBA programs worldwide, Ivey ranked 49th of the top 100 business schools.
- BusinessWeek MBA, On November 13, BusinessWeek On-Line released the results of its biannual ranking of MBA programs in the US, Canada and Europe. Ivey was ranked #4 in the International ranking and #2 in the poll by Corporate Recruiters. Additionally Ivey received straight "A"s on its report card for General Management, Analysis and Careers, and scored an A+ in the Teaching category. This ranking is based on survey responses from both current graduating students and recruiters (45% weighting each) as well as the intellectual capital produced by the business schools (10%).
- QS Top MBA places Ivey as the 15th best MBA program in North America for 2010. The QS Global 200 Business Schools ReportQS Global 200 Business Schools ReportThe QS Global 200 Business Schools Report identifies the most popular business schools in each region of the world. It aims to serve employers seeking MBAs at a regional level. It originated in the early 1990s under the partnership Quacquarelli Symonds. The TopMBA Career Guide was made in 1990, and...
are based on employer perceptions of graduates of the programs.
Books
- Murray Llewellyn Barr 'A century of medicine at Western: a centennial history of the Faculty of Medicine, University of Western Ontario' (London: University of Western Ontario, 1977)
- John R. W. Gwynne-Timothy 'Western's first century' (London: University of Western Ontario, 1978)
- Ruth Davis Talman 'The beginnings and development of the University of Western Ontario, 1878–1924.' (MA Thesis, University of Western Ontario, 1925)